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Electric motorcycle company sues NJ co-founder

Monday - 12/30/2013, 4:11pm  ET

FORT LEE, N.J. (AP) -- A New Jersey man who co-founded a company that makes high-end electric motorcycles that Time magazine calls one of the top inventions of 2013 is being sued by the company over stock shares.

New Jersey resident Vincent Ip co-founded Mission Motorcycles of San Francisco.

Ip was terminated in November for what the company's lawsuit calls unprofessional behavior including physical threats.

The company claims a stock purchase agreement gives it the right to buy back most of Ip's 300,000 shares of stock. But the suit says Ip claims the agreement is invalid because he signed it under duress.

An attorney representing Ip says that he rejects the company's claims and plans to countersue.

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Information from: The Record (Woodland Park, N.J.), http://www.northjersey.com


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